Banking group ING is to start browsing its clients bank records so it can send them tailor-made advertising for bank products, according to a new version of the bank’s privacy statement.
This could include sending people who receive child benefits information about bank accounts for children or sending travel insurance offers to people who have booked a plane ticket, the statement, which is being sent to clients this week, says.
A spokesman told tech website Tweakers that there are legal grounds to use personal details for direct marketing and that the bank is being transparent by explaining the changes in its privacy statement.
People who do not wish to receive marketing information will be able to opt out, the bank said.
The Dutch privacy watchdog said it would be contacting the bank to find out more adding that private details can only be used with a good reason. Privacy experts have also expressed concerns, Tweakers said.
In 2014 ING was forced to scrap plans to sell details of its customers’ spending patterns to third party advertisers and apologised for the upset.
MPs, consumer groups, the central bank and financial services regulator AFM all said they were unhappy about the plans and a poll for television consumer show Kassa showed more than 70% of ING clients said they were considering switching to a new bank.
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